Allied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company granted 24 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market price of $8 per share on the grant date.

Required:

1. Determine the total compensation cost pertaining to the restricted shares.
2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025.

Hled Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company ranted 24 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years, The common shares ave a market price of $8 per share on the grant date. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025. Complete this question by entering your answers in the tabs below. Determine the total compensation cost pertaining to the restricted shares. Note: Enter your answer in millions (1.e., 10,000,000 should be entered as 10). Allied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company ranted 24 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common share have a market price of $8 per share on the grant date. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025. Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entries related to the restricted stock through December 31,2025. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field, Enter your answers in mililons (i,e., 10,000,000 should be entered as 10 ). Journal entry worksheet llied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company ranted 24 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common shares ave a market price of $8 per share on the grant date. lequired: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025. Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entries related to the restricted stock through December 31,2025. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (1.e., 10,000,000 should be entered as 10). Journal entry worksheet Allied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company granted 24 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common sha have a market price of $8 per share on the grant date. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31,2025 . Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entries related to the restricted stock through December 31,2025. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field, Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Journal entry worksheet